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Search Results 0 to 49 of about 262 (some duplicates have been removed)
'brien. pulling the plug on a major deal. rupert murdoch's news corporation ditches its bid for bskyb. mumbai under attack again. three explosions rocked india's financial capital, killing at least 21 people. and on at libya's front line, and to counter attack by colonel gaddafi's forces against rebels advancing on tripoli. >> you can hear it. ♪ >> welcome to our viewers on pbs in america and also a round the globe. the last few days have brought in a credible reversal of fortune for rupert murdoch's media empire. today came another blow. public and political pressure, news corporation withdrew its bid for bskyb. it is another casualty of the hacking firestorm. now prime minister david cameron has announced details of a far- reaching inquiry into recent events. for more on how the deal went bust, here is the bbc business editor. a warning, there is some flash photography. >> rupert murdoch, the great news mogul, in the news for the wrong reasons. putting on a brave face before one of the great humiliations' of his career, the abandonment for his attempt to take over bskyb. here is the explo
the decent and sensible thing and to reconsider his bid to take over satellite television channel bskyb. clegg spoke after meeting the families of thithey schoolgirl -- the schoolgirl. this is a subject that's touching all of us, not only in the social media world, but also in the business world. >> absolutely. the pressure is unbelievable at the moment. i will talk about the share prices in a moment. this is what investors are looking at at the moment. the cultural cemetery of britain says he will not make a rush decision. we know he has written to regular -- written to regulators seeking advice. there's speculation that the takeover will be referred back to the competition commission, which could involve a lengthy investigation into whether mr. rupert murdoch, news corp., his management team would be proper to own bskyb. clegg made those comments a few moments ago. let's listen to what he said about this deal. >> the bskyb bid -- rupert murdoch is now in town in london. i would simply say to him -- look how people feel about this. look how the country has reacted with revulsion to the
and a look at how the scandal is affecting rupert murdoch's ability to take control of bskyb. >>> from cnn hong kong in london this is "world business today." welcome back. >> the phone hacking scandal that put "news of the world" out of print never runs out of ink. they are discussing with mill y dowler's family. the latest is talking with gordon brown. "the sun" improperly obtained private information about his seriously ill's son medical records. "the sunday times" is accused of tricking his accountants into handing over financial information. those accusations will only add fuel to the political firestorm that has charred news corp's reputation but haven't dissuaded him to take over the satellite tv company british sky broadcasting. news corp decided to let regulators rather than lawmakers have the final say on the taker. >> reporter: rupert murdoch has upped the stakes to take over bskyb. until the hacking scandal hit its empire last week it was skpted murdoch would be allowed to buy the 60% his news corp doesn't already own. on monday news corp formally withdrew pledges to sell off s
hacking scandal force's report murdoch to abandon his bid for bskyb. many egyptian police are removed from their jobs. >> we are broadcasting to viewers on pbs in america and around the world. this is "newsday." >> india's main commercial city has been hit by three coordinated bombings leaving at least 21 people dead and injuring more than 100. the blast is the worst attack since the attack by islamic extremists in 2008. indian officials blamed terrorists for the explosion. >> it was the evening rush hour when the bombs went off. three of them within a quarter of an hour. all of targeted were busy locations. people on their way home from work. one eyewitness said he sought two motorbikes explode in flames and the injured screaming for help. well over 100 people were wounded in what president obama condemned as an outrageous attack. many have lost limbs. >> the blast occurred at about 6:45 p.m. we infer that this was a quarter ended attack by terrorists. >> the first bomb went off at 6:54 at this bizarre. a minute later, the opera house district was attacked. then, a crowded neighborhood at
corp of the uk broadcast, bskyb saying that should be put on hold and referred to the competition commission. and he talked about the closure of the "news of the world" and talking about really the need for action. >> a strong, vital press is at the heart of our democracy. we must protect it and defend it. we all know politicians must be wary of tampering with the precious institution of the free press. yet there come moments when it is up to us to defend not ourselves, but the public from parts of the press. this is one of those moments. we must not only speak for the public but also show we can act on their behalf. >> reporter: the prime minister, david cameron, is due to speak in the next half an hour or so. and i think everyone is waiting to see what he has to say about this takeover by news corp of bskyb, whether he will weigh in on that argument. also what he'll have to say about rebecca brooks, the chief executive, who still remains in her post, despite the paper she used to edit is closed with the loss of 200 jobs. >> dan rivers joining us there from the news international
of responsibility. >>> media baron rupert murdoch has abandoned his attempt to take over bskyb. it was dropped after all the parties in parliament called on murdoch to dump his plans to pursue it. at least four members of the u.s. congress want the government to investigate whether u.s. citizens were victims of phone hacking by murdoch's media outlets. international journalists were attempted to hack into the phone messages of 9/11 victims. > ruling party officials say mr. salih will go back after he's 4 surgery. >>> those are the headlines. those are the headlines in cnn in london. "world business today" starts now. >>> very good morning to you from cnn rome. >> and good afternoon from cnn hong kong. i'm pauline chu and this is "world business today." these are the top stories on this thursday, july 14th. running on empty and running out of time on both sides of the atlantic. there's a tense stalemate in washington as lawmakers fail yet again to head off the looming debt default. >>> meanwhile, italy races to push through austerity measures and restore confidence in the country's economy. >>> plus,
corp. has dropped their bid for bskyb. >> they clearly need to do with the problems that news international. >> 21 people were killed in a financial capital. the fighting continues to rage in libya. colonel gaddafi's forces and the rebels are still in a tug of war. the last few days have brought an incredible reversal of fortune for rupert murdoch's media empire and today can get another blow. bowling to public and political pressure, news corp. withdrew their bid for bskyb. this is in the wake of the hacking scandal. for more on how the deal went, here is the bbc's business editor. >> rupert murdoch, the great news mobile is in the news for what he would see as the wrong reasons. the great humiliations' of his career, the abandonment of his desire to get all of british news broadcasting. "we believe that the acquisition would benefit both companies it has become clear that it is too difficult to progress in this climate." this was the appalling climate for mr. murdoch. >> when such a serious cloud hangs over news corp. and a systematic pattern of deceit, does he agree with me
, and the big worry now for investors, ok, we've already seen murdoch pull out of that whole bskyb, the british broadcaster, where newscorp holds 39% of, and they wanted the full remaining 61%. they wanted full control of bskyb, because it is a money spinner, a healthy business, and it continues to grow. as i said, that's where they make their money from. given u.s. operations, fox television, fox network, had sales just over $15 billion. the entire group had sales of $33 billion. so you can see fox makes almost half of the group sales. and the way on the performance, it was going to generate around a third of newscorp's profit. so that was very important. so we're seeing these strategic, i don't know, these strategic plans. it will be interesting to know whether or not rebekah brooks has another -- has perhaps another spot or will be available for another spot within the murdoch empire. and i have to say, with her going down or stepping down from the top position of the british newspaper side of the business, there was still ideas and speculation swirling that rupert murdoch may very well get
-on he focus for bskyb, what does that do to murdoch's numbers? >> this is what the markets are looking at now, two big questions about the decision yesterday from the murdoch empire to get rid of "news of the world." a, did that they do simply so sacrifice some very prospective journalists, etc., did they get rid of "news of the world" to keep that very top executive, of course, in the murdoch empire, rebekah brooks, or have they done it to try to appease the u.k. regulator for the media industry, so the murdoch empire is seen as fit and proper, as a fit and proper owner of -- to take full control of bskyb. the murdoch empire, they own 39% of bskyb. we are talking about the very successful british broadcaster, but the murdoches have been trying to gain all 100% control. but if you look at the numbers, here's the telling tale. the "sun" newspaper, the sister to "news of the world" had sales of about a billion dollars last year, they made a profit of 142 million dollars, but if you look at the entire picture of the murdoch empire, we are talking about global sales of $33 million last yea
the big satellite network bskyb. today they dropped their bid. there's no telling where this case ends, but this is all new territory for this huge media figure and for great britain. nbc's stephanie gosk is in london again for us tonight. stephanie, good evening. >> reporter: good evening, brian. well, news corps got beaten up all day today by british politicians both before and after they dropped out of the bid. one of their fiercest critics, former prime minister gordon brown, who accused murdock's papers of law breaking on what he calls an industrial scale. >> order! order! >> reporter: in parliament today politicians for once found something they could agree on. rupert murdock's news corporation, they said should drop its bid for british tv network bskyb. >> they've got to stop talking about mergers until they sort out the mess they created. >> reporter: but even before they voted, news corps, beat them to it. >> they have decided in the last few moments that it will withdraw. >> reporter: announcing they would walk away from the biggest merger in the corporation's history, potent
capital. rupert murdoch withdraws its bid for bskyb. and united states through to the finals after beating france 3-1. three bomb blasts have rocked credit districts in imbibe during rush-hour killing at least 21 people and 100 wounded. this is the biggest attack since the 2008 attacks blamed on pakistan based militants. they say one glass was at a bus stop in the crowded neighborhood. the others were at the jewelry markets, a very business the district. >> the bombs exploded at the height of the evening rush hour. within the space of 10 minutes, they ripped through three busy district. won a famous jewelry market that draws crowds of shoppers. it is believed that the perpetrators planted the explosives on scooters and motorcycles. one of the bombs was hidden inside of a car. >> about 6:45 p.m., within minutes of each other. this was a coordinated attack by terrorists. >> there was an immediate claim of responsibility. they believed the bombs were improvised devices. so far, they have refused to blame any groups. at the united nations, the german foreign minister expressed his shock. >> i
minister just say whether or not in the conversations he had, the question of the bskyb takeover was mentioned? >> the point i'm trying to make is this, i had no responsibility for the bskyb takeover. i specifically asked to be taken out of any of the decision-making and any of the information because i didn't want to put myself in any sort of compromising position. i was very clear about that. so much so that i didn't even know when many of the key announcements were being made. that's why rebecca brooks was quite able to say at the house of commons yesterday that there wasn't a single conversation that couldn't have taken place in front of the select committee. now, i know that many people were hoping for some great allegation yesterday that could add to their fevered conspiracy theories. i'm just disappointed for them that they didn't get one. >> allen michael. >> thank you, mr. speaker. as police minister my experience of briefings from the police was that they didn't give you any operational information but they did tell you things that you needed to know. senior police offi
the country expects. he saw no need for a judicial inquiry. he saw no need to change course on bskyb and he has failed to come clean on andy coulson. >> some tourists think rupert murdoch should not wait for the commission but the ditch the bskyb bid altogether. >> i know it is unusual for people in his position to behave. [unintelligible] [no audio] >> we're having some technical trouble with the program you are watching. we are working to correct the problem. we hope to return shortly. we're having some technical trouble with the problem you are watching. we apologize. we hope to return to the program shortly. >> we have been talking to a senior colleague from his days in downing street. we told them how the office received a phone call that somebody from the sun, they had had a tip from the infirmary. betty had cystic fibrosis. this was in the middle of the big prepositions of the pre buzzer report with gordon brown. gordon brown reacted very badly. how did they now? where could -- where was the public interest? he was not going to allow them to make a story out of this sun's elements. h
the issue of bskyb. the cabinet secretary has said there was no breach of the ministerial code. i have set out every single meeting since the last election. no. the right honorable gentleman published a list this morning but it does not go back to the last election. and indeed when are we going to see the transparency from tony blair and from gordon brown? second, second, second issue -- second issue, his questions about andy gillison. >> order, the house is getting overexcited again. i'm glad it's calmed down and we want to listen to what the prime minister to say. >> and he asks questions about andy coulson, no one has raised a single question about his conduct at number 10 downing street and there was only one party with a news national executive with a cloud in his head sitting in his office. third question, the questions he raising about my chief of staff edward luellen. is he honestly saying when it comes to the proposed meeting with the john yates is the leader of the opposition suggesting that he knows better than the chairman of the home secretary than the cabinet secretary than j
expected news corporate to consolidate all of bskyb and now that is not happening. it disappoint investors. and second you have this broadening scandal. but when we look at the numbers news corp. is trade being 10 times forward earnings. and parently they have about 12 billion of cash on the balance. if you make that adjustment and remove the cash from the market capitalization they are trading closer to 6.5 times earnings. that's too compelling to ignore. >> what about some of the other issues that are on the worry list for investors and we listed some of them on the screen here. let's take a look. one of the worries is what if news corporate is forced to sell its british newspaper what if u.k. regulators for its the company to sell its stakes that it already holds in bskyb satellite. news corp. without also lose its tv licences if u.s. regulators say news corp. is no longer fit to own american television properties. there is a question about leadership change at the top. if rupert murdoch steps down or out as c.e.o. and what-- will any of the senior executives indicted or go to il gentle
corp. was bidding for 100% control of bskyb. this would have represented a major change for a public life in any circumstances, let alone those we now face. it would have given them unfettered control of one of the two largest broadcasters in britain as well as 40% control of the newspaper market that already own. this was not an incidental change but a major departure. the revelations of recent weeks went to the core of this bid. they suggest the people at news international have concealed and assembled in an attempt to hide the truth about what had been done, including from this house of commons. >> does my friend agree with me that given the revelations and the differences in the intermission provided to this house, it is right and proper for mr. breck of works -- rebekah brooks and james murdoch and rupert murdoch to answer the call from the select committee on culture media and sports to give evidence to this house next tuesday? >> my friend is completely right about this. these are people who are key figures in the newspaper industry and the media industry in britain and they s
by dominating the media with his heavy, de facto control interest in sky news and bskyb, and the major national dailies. so it's a matter of public record, piers, that eight weeks before this whole shakespearean drama hit the headlines, rupert and senior managers were meeting with advisers and financial managers to explore the possibility of selling the entire conglomeration of newspapers. that is probably going to be inevitable now, and who knows whether "the wall street journal" and "new york post" will be included. >> jessica reef cohen, your firm was involved with the purchase of bskyb. was your reading that murdoch was going to sell his newspaper division? >> we have no idea. we really don't know. but from an investor perspective, i think everybody would be thrilled if news corp spun out the newspaper division or sold it, but somehow separated it from the entertainment assets. >> let me ask you. obviously, the bskyb, a huge deal for news corporation. 9 billion, 10 billion pounds, $16 billion dollars. it looks like it's in serious jeopardy. it used to be a financial cash cow. when i was at
. the withdrawal to the bskyb bid is a blow to rupert murdoch but given the opposition of the government, is it fair to say he simply had no alternative? >> reporter: didn't seem that he did, martin. had this rare instance where political parties in this country got together on one issue and agreed, and the issue was that murdoch needed to back down from this deal. they were going to vote on a motion to urge him to back off, an inside news corp both them to the punch and said that they were going to withdraw from the deal, but this was going to be the largest acquisition news corp has made in its history, and it was set to generate billions of dollars. it was going to be extremely profitable for them, and now it has gone away. as a result of a scandal that began at news of the world over allegations of phone hacking reporters. martin? >> absolutely. it's possible that murdoch may take another crack at trying to acquire bskyb. today gordon brown launched a withering attack on the entire murdoch empire. do you think it's possible that he'll sell his newspapers and dismantle the british arm
the forecast. >>> uk lawmakers close ranks to try and block news corp's bid for bskyb. first up though here in the italian capital, the government is preparing to speak to parliament for a marathon debate over the next couple days, designed to gain the necessary approval for painful austerity measures. these are ones designed to prevent this country from becoming the fourth eurozone nature to go cap in hand to the imf, the eu and the ecb. pauline. >>> european stock market investors are watching italy's debt crisis very closely. here is where they stand at the moment. let's take a look at the moment. the london ftse making some gains, so is the xetra dax t. zurich smi is pretty much flat at the moment on this wednesday morning. nina? >>> pauline, of course, the effects of italy's debt crisis are being next right across the board. let's have a look at where the ftse is. the milanese has lost about 4,000 points in the last six months alone as fears of contagion after the bailout is awarded have been hitting the shores in italy. it is the southern and peripheral areas of the eurozone that are
for bskyb saying that we believe that the proposed acquisition of bskyb by news corporation would benefit both companies. but it has become clear that it is too difficult to progress in this climate. now news corporation remains a committed long-term shareholder in bskyb. we are proud of the success it has achieved and our contributions to it. meanwhile the scandal is crossing the pond to the u.s. senator jay rockefeller is calling for an investigation into whether news corp employees listened in on phone calls of families of 9/11 victims and others here in the state. hugh grant, the exacter, whose medical records were the subject of a recent newspaper article, says americans may now take notice. >> i think people need to ask themselves, you know, who is this man who owns such a large part of our media? and i think, you know, when you hear some of the new allegations about who the "news of the world" was phone hacking that may include, and i stress it's just allegations at this stage, some of the 9/11 victims, well, i don't know. that may strike a chord with americans. >> nbc's stephanie
and that is the average person's opinion. they also want to signal that the takeover of their television station, bskyb which is what rupert murdoch would like to do, which is a deal that is pretty close to impossible. >> how can the british police be expected to navigate-investigate when they themselves are implicated. -- be expected to investigate when they themselves are implicated? >> they are blessed to have been corrupt then pass on the information to a private investigator. -- they are believed to have been corrupt and then passed on the information to a private investigator. it appears that newspapers have not given them the information that they needed in order to investigate the corruption of these police officials, then they stopped short of a full and proper and complete investigation. they have confessed that the relationship with the murdoch press has been too cozy. this is shocking for the british people. >> the scandal and investigation is having a negative effect on news corp.'s plans for the takeover of bskyb. >> labor and liberal democrats have said that this takeover should not take
if it is fit and proper to own bskyb. > >> hello and welcome to gmt. i am zeinab badawi. a memorial service for the afghan president's slain brother is marred by another attack on the same day the when it reveals civilian casualties and afghanistan have increased. as the funeral starts for big thumbs of the mumbai bomb attack, indian authorities blame terrorists for the blast that killed 20 and left dozens injured. hello and welcome to gmt. it is midday in london, 7:00 a.m. in washington, and the former editor of the "news of the world" newspaper has agreed to be questioned by british mp's over the phone hacking scandal. the committee is taking further steps. rupert murdoch's news corp. has a knowledge it cannot be business as usual and it has dropped its full takeover bid, at least for now of bskyb. news international is refusing to comment on who may or may not appear before the mp's. nick clegg, deputy prime minister, has urged senior members to attend. >> my message is to do the decent thing. you cannot hide away from this level of public anguish and anger. when you are in that position
takeover of britain's largest satellite broadcaster bskyb. >> if it has a chance of stopping that acquisition, that will be one of the most painful things for murdoch because of course his business interests are what are so important to him. >> reporter: what started as a localized headache for mr. murdoch in britain could be about to spread across the atlantic with some investors expressing nervousness about his wider business empire. but his biggest backer, saudi prince confirmed he has no plans to alter his investments. >> that was nbc's anabel roberts reporting. >>> britain's labor party is now promising to fight rupert murdoch's multibillion dollar take overbid that would give him 61 % in british sky broadcasting. a vote in the house of commons could come as early as this week. shares in bskyb dropped sharply in trading this morning. >>> turning now to the arab world where iraqi police say now three rockets have hit baghdad's green zone. it's part of panetta's first trip to iraq and afghanistan since succeeding robert gates at the pentagon. yesterday in baghdad, secretar
to ache over bskyb in britain that somehow these things got exploded and he has temporarily, at least, withdrawn from that bid. >> jon: bskyb is a satellite television provider in britain. >> u.k. >> jon: he had 40% of it. the company had 40% of it. he was about to buy the remaining shares. >> yes. >> jon: or launch a bid to do so and that's all, that's all gone. >> well, he's withdrawn the offer. let's see what happens at the end of this affair and let's see how far is spreads. i think the one thing that i haven't seen a lot of is, that is waiting to see what the facts show us and how far this spreads. now, we have apparently, a fbi inquiry into whether or not we ought to have an investigation into america, into whether or not similar practices were used by any of the newscorp outlites here. there is no evidence that i have seen to support that, but that doesn't stop, a lot of the media from jumping to the same kind of conclusions, that they jumped to with respect to dominique strauss-kahn, and automatically assuming he was guilty and then assuming he he was innocent. let's just wait
. shareholders have seen their stock fall. they have also seen the price but oner bid of b-sky-b the shelf. we spoke to the second-largest shareholder of news corp., the prince of saudi arabia. >> even by the standards of the wealth that you find here on the french riviera, the man i am about to meet is wealthy. prince saud is known as the arab warren buffett. he is a nephew of the saudi king, but he says his fortune is self made. his company, kingdom holdings, is in a wide range of businesses, including the second-largest stake in the company that funds rupert murdoch's entire global media -- owns rupert murdoch's entire global media empire. rupert murdoch owns 12%. the prince owns 7%. what is more, he is far richer than rupert murdoch. rupert murdoch is said to be worth $7.5 billion. the prince is said to be worth $20 billion. i met the prince on an upper deck of his yacht. >> we hope that as this thing unfolds, the truth will come out. it is very important for me and my company, who are investors in news corp., to get this in order. ethics to me are very important. >> some terribly unethica
. the reason he wants 100% is because bskyb is a growing business, generating huge amounts of cash. this year profits are close to 1 billion pounds. news of the world off is under pressure. mr. murdoch has been arguing that his takeover should be allowed to go through without a lengthy investigation. jeremy hunt had a deal. now mr. murdoch withdrew that, asking for the deal to go to the ofcom. the delay in the takeover is better for him than the alternative of abandoning it all together. as a result, of the corporation an announcement this afternoon, i am wonder referred this to the competition commission. and we will be writing to them this afternoon. >> the leader of the opposition did not want to hear from mr. hunt. >> the prime minister was wrong not to come to the house of commons today. as on every occasion during this crisis, he has failed to show the necessary leadership the country expects. >> here is what the prime minister said to mr. miliband. >> if i was running that company now with all of its problems and the difficulties and the mess that they are in, there's a focus on cleani
to call on plans for rupert murdoch's bid for the bskyb to be abandoned. this report from our deputy political editor does contain flash cryptography. >> here is gordon again in downing street with his daughter elisabeth next to him. and their top editor, rebekah brooks, the red hat on the right. for years a team brown stayed close. no more. the smiles fell away. using criminals to investigate his private life. >> i had my bank accounts broken into. ilesd my lawyers' f blanked. my tax returns went missing at one point. medical records have been broken into. i do not know how all this happened but i do know one thing, into of these instances, there is absolute proof that news international was involved in hiring people to get this information. i also know that the people they work with our criminals. >> court of mankind were looking for information about a flat in this london street in the early 1990's. he said he paid the market rate. the sunday times conceded not. >> are you considering resigning? >> he is not resigning. his newspaper had been out to bring brown down as a government
reached over $16 a share. now that was the week that rupert murdoch withdrew his bid for bskyb, bring it up to date, this week and here's the share price for this week, and july 18th, monday share price was $15.40. that following the arrest of rebekah brooks, which as some of you may be aware was on sunday. so the political pressure may spread beyond the uk. pay tv fox corps has a $2 billion bid out and will see if it goes the same way as the bskyb bid which was withdrawn. >> a news corp newspaper, it goes far beyond the street. >> news corp is being shaken by the hacking scandal but over the last few decades rupert murdoch has built quite an empire. we thought it would be useful to see where all of the capital is coming in from, based on operating income in 2010 and we're going to start with the cable networks. this is the real cash cow of the news corp empire, $2.54 billion, operating income for 2010 representing 55% of the overall bottom line. let's go into the next division, fox search light 20th century fox tv production, 24% of the overall group, $1.1 billion, obviously not huge
about james murdoch about bskyb, because he'll spend time dealingith the accusations of phone hack. >> rose: are you suggesting thee acquisition of bskyb to own all of it? >> i think that's going to be incredibly difficult given the current climate. news corporation will say this should be a matters of whether the -- there are serious competitioquestions regardg the acquisition of bskyb, the satellite television company, by news corp. but we're now in the political arena. and just the mood has completely changed in the last week in this country. media plurality, that is the questions about the concentration of media -- and we have to remember that rurt murdoch owns several newspapers, as well as bskyb -- those issues are now cent stage. i think it's politically inconceivable that this merger will g ahead. >> rose: there's also thisquest, is rebekah brooks, and what did she know and what did she say and how did she do. >> the striking thingbout all of the committees, all of these inquiriess not the number of questions that are answered, but e number of qutions that are lt hanging. o
Search Results 0 to 49 of about 262 (some duplicates have been removed)